New Listings December 2021

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4224 Durango Place, Fort Collins, CO 80526

Listing Agent: Meagan Griesel

MLS 956466

Great location in a cul-de-sac, near the Max Line and no HOA. Plenty of room to spread out and be comfortable. The first space you walk into is a large living room with vaulted ceilings and a wood burning fireplace, then a separate dining area and an updated eat-in kitchen that leads to an outdoor area. Large lot with tons of potential and mature landscaping. Front yard is a blank slate, the current owners have removed the rock garden landscaping. Large primary bedroom with tons of natural lighting, beautiful walk-in shower, and perfectly sized walk-in closet. The additional upper bedrooms has a jack & jill bathroom. Pre-inspected. Call (970) 691-0056 to schedule your private tour or click here for more information.

1024 W Prospect Rd, Fort Collins, CO 80526

Listing Agent: Natalie Parsons

MLS 956858

Great location! This 5 bedroom ranch style home is just blocks from CSU and is located in HMN Zoning (High Density Mixed Use Neighborhood) which would allow 5 non-related occupants with city approval. New furnace is 2019. Ample off-street parking and 2 car garage with a fenced yard. Home has been a long time rental with a strong rental history and is currently rented through July 2022. Home to be sold in “AS IS” condition. Call (970) 541-4802 to schedule your private tour or click here for more information.

4339 Shepardscress Drive, Johnstown, CO 80534

Listing Agent: Reba Tipton

This immaculate Johnstown ranch-style home in conveniently located Thompson Crossing has all the things! The cheery front entry is a welcoming prelude to the gorgeous interior. Spacious and elegant, this home boasts a split floorplan and retreat-like primary suite. The kitchen is a chef’s delight with seemingly endless cabinets, corner pantry, and center island. The light, bright walkout basement has 2 more bedrooms, a bathroom, a massive recreation/ family room and generous storage. The 671 sq. ft. 3-car garage is a welcome bonus, along with the spacious and manicured lot; 0.21 acres, backing to open space. Get in line to see this beauty nestled near tons of shops, restaurants w/ paved trails right behind the I-25/ Hwy. 34 corridor. Make your offer today; call (970) 215-6768 to schedule your private tour!

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New Listings Week of November 14th

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2576 Trio Falls Drive, Loveland, CO 80538

Listing Agent: Kelly Swift

MLS 955106

You can be in by Christmas! This move-in ready 2 bed/2 bath ranch style home features an open, bright floor plan. Enjoy the fully upgraded kitchen w/granite, SS appliances, 42″ cabinets, soft close drawers & pull outs throughout. Fantastic cork floors, newer lighter fixtures, custom shades and upgraded baths (primary w/heated floor!). Wonderful community with a pool, modern clubhouse, park, lakes for fishing and kayaking and a 4- mile trail! Easy access to I-25, HWY 34, hospital, restaurants, schools, & shopping. With main level living, and a 2 car attached garage this home was built for both comfort and entertainment. The HOA covers all exterior maintenance, snow removal, landscaping, paint, roof and lawn maintenance. Beautiful and bright home w/loads of natural light that would fit well as a primary home, vacation home or investment property! Call (970) 310-4876 to schedule your private showing or click here for more information.

 

7011 W 11th Street Road, Greeley, CO 80634

Listing Agent: Rondi duPont

MLS 955102

Looking for a home with some elbow room? This 2 story home is situated on a half an acre with NO HOA in West Greeley. The 4 bedroom 4 bathroom home boasts an inviting living area with vaulted ceilings and a fireplace, a separate dining room and a kitchen with stainless steel appliances. The walkout basement is finished to give additional space to spread out in the home. But wait, there is more! The property has a 35×24 HEATED Workshop and 8ft garage door. Bring your RV and Camper! The entire property is fenced with a beautiful wood privacy fence. There is a romantic gazebo to enjoy the large back yard and an additional shed and chicken coop. This home has so much to offer. Don’t miss seeing it! Call (970) 401-0123 to schedule your private tour or click here for more information.

 

880 E State Highway 56, Berthoud

Listing Agent: Katie Robinson

MLS 955058

Spectacular, completely fenced horse property sitting on almost 5 acres. Wonderful views of Longs Peak and Front Range in a quiet location close to downtown Berthoud & I-25. For all those horse lovers: 3-stall Cleary Barn & working horse arena w/ 2 acre grazing pasture. This freshly painted home features hardwood floors, rich wood trim, gourmet kitchen with custom cabinetry, Corian countertops, glass cooktop, wall oven, double sink, SS refrigerator, & large island that opens to comfortable family room with gas fireplace. West side of the home is designed to take in the views from all rooms. Living room & primary bedroom have large bay windows with seating areas. Large veranda to enjoy sunsets & warm evenings. Fully finished basement w/ large game room, wet bar, media room & a guest suite. Great for entertaining indoors or out! Greenhouse & beautiful outdoor living space with brand new pergola to the east. Ditch rights included to lease water with potential of 250 bales of hay per year. Call (970) 430-9630 to schedule a private tour or click here for more information.

 

881 Village Drive, Milliken, CO 80534

Listing agent: Alexis Foster

MLS 955393

Come see this stunning, better than new, 2-story home. 881 Village Drive, Milliken has so much to offer including its amazing location across the street from the neighborhood school and open space. Recent updates include; water heater, all new interior paint throughout the home, mudroom remodel, additional electrical outlets in the garage including 220-volt wiring for a future garage heater/ac unit, garage insulation, and drywall, new light fixtures throughout the home, main floor bath remodel and new Stainless Fridge and Dishwasher in the kitchen just to name a few. Fully landscaped and fenced yard with a huge patio, perfect for summer BBQs. Full unfinished basement with bathroom roughed-in provides room to expand. This home is conveniently located for commuters, just minutes from I-25, Hwy 257 and Hwy 85. Additional amenities include a community pool, park, and recreational center. Call (970) 310-6999 to schedule a showing for this pristine home or click here for more information.

 

2708 Stonehaven Drive, Fort Collins, CO 80525

Listing Agent: Jon Holsten

MLS 955451

Fantastic four-bedroom home in the coveted English Ranch neighborhood! Boasting a wide-open floor plan with high vaulted ceilings and tons of natural light, your new home also features a large kitchen with lots of counter space and plenty of storage along with a separate dining area and living room with gas fireplace. Sprawling main level primary suite with 5 pc bath and large walk-in closet. Upstairs, you’ll find a loft, two additional bedrooms and a bath. Enjoy more elbow room in the finished basement with an oversized fourth bedroom, large rec area, bath and ample storage. Relax or entertain on the large outside deck overlooking the low-maintenance back yard. Three-car garage. Excellent location with paved walking trail to nearby schools, shopping and restaurants. Quick access to I-25. An incredible home and terrific value! Call (970) 237-2752 to schedule your private tour or click here for more information.

 

700 Frontier Court, Fort Collins, CO 80526

Listing Agent: Jon Holsten

MLS 955457

Beautiful four-bedroom ranch-style home at the end of a cul-de-sac in central Fort Collins! Your new home sits on a huge lot and boasts updates throughout. From the great kitchen with plenty of counter space and storage — to the family room with fireplace, separate living room and remodeled main bath — this home is move-in ready! Large primary suite with full bath and two additional bedrooms on the main level. In the finished basement, you’ll find a large rec area, additional bedroom with private bath, and an office/non-conforming fifth bedroom. New exterior paint — and new interior paint through most of the home. Relax or entertain on the front deck or in the incredible back yard with mature landscaping and large trees. Tire swing included! Close to schools, shopping, restaurants and everything this great community has to offer. An excellent home and incredible value! NO HOA! Call (970) 237-2752 to schedule your private tour or click here for more information.

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Population Math

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The brand new Census data has just been released and it is fascinating!

Colorado’s population now sits just below 6 million people at 5.773 million.  Just 20 years ago it was 4.301 million.

Northern Colorado is booming and now has 688,047 in Larimer and Weld Counties.  It grew by 135,592 people in just ten years.  If Northern Colorado grows at just 2% per year, it will have 838,725 people by 2030 and 1,022,402 by 2040.  

For several years we have been predicting that Northern Colorado would exceed by 1 million people by 2040 and it looks like that will come true.

Metro Denver is also booming.  For reference, we define ‘Metro Denver’ as Adams, Arapahoe, Denver, Douglas, and Jefferson Counties.

Population in Metro Denver is now 2.831 million and was 2.109 million in the year 2000.  It has grown by 722,000 people in 20 years.

If Metro Denver grows at 2% per year, it will hit 3.451 million in 10 years and 4.206 million in 20 years.

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Q1 2021 Colorado Real Estate Market Update

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The following analysis of the Metro Denver & Northern Colorado real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact your Windermere Real Estate agent.

REGIONAL ECONOMIC OVERVIEW

Following the decline in employment last winter, Colorado has started to add jobs back into its economy. The latest data shows that the state has now recovered more than 219,000 of the 376,000+ jobs that were lost due to COVID-19. This is certainly positive, but there is a long way to go to get back to pre-pandemic employment levels. Denver and Fort Collins continue to have the greatest improvement in employment, but all markets show job levels well below pre-pandemic levels. With total employment levels rising, the unemployment rate stands at 6.6%, down from the pandemic peak of 12.1%. Regionally, unemployment levels range from a low of 5.6% in Fort Collins and Boulder to a high of 6.7% in Greeley. COVID-19 infection rates have started to increase again, and this has the potential to negatively impact the job market. I am hopeful that the state will not be forced to pull back reopening, but this is certainly not assured.

COLORADO HOME SALES

❱ 2021 started off on a bit of a sour note, with total sales down 1.2% compared to the same period in 2020. Sales were 29.2% lower than in the final quarter of 2020 as 8,645 homes sold.

❱ Sales were higher in four of the counties contained in this report, were essentially flat in one, and dropped in seven. It was pleasing to see significant sales growth in the large counties of Denver and Adams.

❱ Another positive was that pending sales, which are an indicator of future closings, were 4.8% higher than in the fourth quarter of 2020 and 5% higher than a year ago.

❱ The disappointing number of home sales overall can primarily be attributed to the woeful lack of inventory. Listings in the quarter were down more than 61% year over year and were 40.6% lower than in the fourth quarter of 2020.

 

COLORADO HOME PRICES

❱ Prices continue to appreciate at a very rapid pace, with the average sale price up 16.5% year over year, to an average of $556,100. Home prices were also 4.4% higher than in the fourth quarter of 2020.

❱ Buyers appear to be out in force, and this demand—in concert with very low levels of inventory—continues to heat the market.

❱ Prices rose over last year across all markets covered by this report, with the exception of the very small Gilpin County. All other counties saw sizeable gains and the trend of double-digit price growth continued unabated.

❱ Affordability levels are becoming a greater concern as prices rise at a far faster pace than wages. Even though mortgage rates have started to rise, they haven’t yet reached the level needed to take some of the heat out of the market.

 

DAYS ON MARKET

❱ The average time it took to sell a home in the markets contained in this report dropped 20 days compared to the first quarter of 2020.

❱ The amount of time it took to sell a home dropped in every county contained in this report compared to the fourth quarter of 2020.

❱ It took an average of 25 days to sell a home in the region, down one day from the fourth quarter of 2020.

❱ The Colorado housing market remains very tight, as demonstrated by the fact that it took less than a month for homes to sell in all but two counties.

 

CONCLUSIONS

This speedometer reflects the state of the region’s real estate market using housing inventory, price gains, home sales, interest rates, and larger economic factors.

The relatively low level of home sales is not a surprise given how few choices there are for buyers. Sellers are certainly benefitting from strong demand, as demonstrated by the significant price growth. I maintain my belief that there will be an increase in inventory as we move through the year, but it is highly unlikely that we will see a balanced market in 2021.

Given these factors, I am moving the needle a little more in favor of sellers, as demand is likely to continue to exceed supply.

ABOUT MATTHEW GARDNER

As Chief Economist for Windermere Real Estate, Matthew Gardner is responsible for analyzing and interpreting economic data and its impact on the real estate market on both a local and national level. Matthew has over 30 years of professional experience both in the U.S. and U.K.

In addition to his day-to-day responsibilities, Matthew sits on the Washington State Governors Council of Economic Advisors; chairs the Board of Trustees at the Washington Center for Real Estate Research at the University of Washington; and is an Advisory Board Member at the Runstad Center for Real Estate Studies at the University of Washington where he also lectures in real estate economics.

 

The post Q1 2021 Colorado Real Estate Market Update appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Q1 2021 Colorado Real Estate Market Update

/in , , , , , , , , , , , , , , , , , , /by

The following analysis of the Metro Denver & Northern Colorado real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact your Windermere Real Estate agent.

REGIONAL ECONOMIC OVERVIEW

Following the decline in employment last winter, Colorado has started to add jobs back into its economy. The latest data shows that the state has now recovered more than 219,000 of the 376,000+ jobs that were lost due to COVID-19. This is certainly positive, but there is a long way to go to get back to pre-pandemic employment levels. Denver and Fort Collins continue to have the greatest improvement in employment, but all markets show job levels well below pre-pandemic levels. With total employment levels rising, the unemployment rate stands at 6.6%, down from the pandemic peak of 12.1%. Regionally, unemployment levels range from a low of 5.6% in Fort Collins and Boulder to a high of 6.7% in Greeley. COVID-19 infection rates have started to increase again, and this has the potential to negatively impact the job market. I am hopeful that the state will not be forced to pull back reopening, but this is certainly not assured.

COLORADO HOME SALES

❱ 2021 started off on a bit of a sour note, with total sales down 1.2% compared to the same period in 2020. Sales were 29.2% lower than in the final quarter of 2020 as 8,645 homes sold.

❱ Sales were higher in four of the counties contained in this report, were essentially flat in one, and dropped in seven. It was pleasing to see significant sales growth in the large counties of Denver and Adams.

❱ Another positive was that pending sales, which are an indicator of future closings, were 4.8% higher than in the fourth quarter of 2020 and 5% higher than a year ago.

❱ The disappointing number of home sales overall can primarily be attributed to the woeful lack of inventory. Listings in the quarter were down more than 61% year over year and were 40.6% lower than in the fourth quarter of 2020.

 

COLORADO HOME PRICES

❱ Prices continue to appreciate at a very rapid pace, with the average sale price up 16.5% year over year, to an average of $556,100. Home prices were also 4.4% higher than in the fourth quarter of 2020.

❱ Buyers appear to be out in force, and this demand—in concert with very low levels of inventory—continues to heat the market.

❱ Prices rose over last year across all markets covered by this report, with the exception of the very small Gilpin County. All other counties saw sizeable gains and the trend of double-digit price growth continued unabated.

❱ Affordability levels are becoming a greater concern as prices rise at a far faster pace than wages. Even though mortgage rates have started to rise, they haven’t yet reached the level needed to take some of the heat out of the market.

 

DAYS ON MARKET

❱ The average time it took to sell a home in the markets contained in this report dropped 20 days compared to the first quarter of 2020.

❱ The amount of time it took to sell a home dropped in every county contained in this report compared to the fourth quarter of 2020.

❱ It took an average of 25 days to sell a home in the region, down one day from the fourth quarter of 2020.

❱ The Colorado housing market remains very tight, as demonstrated by the fact that it took less than a month for homes to sell in all but two counties.

 

CONCLUSIONS

This speedometer reflects the state of the region’s real estate market using housing inventory, price gains, home sales, interest rates, and larger economic factors.

The relatively low level of home sales is not a surprise given how few choices there are for buyers. Sellers are certainly benefitting from strong demand, as demonstrated by the significant price growth. I maintain my belief that there will be an increase in inventory as we move through the year, but it is highly unlikely that we will see a balanced market in 2021.

Given these factors, I am moving the needle a little more in favor of sellers, as demand is likely to continue to exceed supply.

ABOUT MATTHEW GARDNER

As Chief Economist for Windermere Real Estate, Matthew Gardner is responsible for analyzing and interpreting economic data and its impact on the real estate market on both a local and national level. Matthew has over 30 years of professional experience both in the U.S. and U.K.

In addition to his day-to-day responsibilities, Matthew sits on the Washington State Governors Council of Economic Advisors; chairs the Board of Trustees at the Washington Center for Real Estate Research at the University of Washington; and is an Advisory Board Member at the Runstad Center for Real Estate Studies at the University of Washington where he also lectures in real estate economics.

 

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Record Highs

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While our temperatures felt like record lows this week, real estate prices have been hitting record highs along the Front Range.

 

Here is the average price for residential sales so far this year in each of our Front Range markets (includes both single-family and multi-family):

 

  • Fort Collins = $567,000
  • Loveland = $449,000
  • Windsor = $537,000
  • Greeley = $376,000
  • Metro Denver = $544,000

 

These prices are generally up 10% or more compared to last year.

 

If you are curious to know what your personal property is worth today, even if you aren’t considering moving any time soon, we are happy to do the research for you.  Just let us know!

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At Windermere Real Estate we are taking Social Distancing very seriously and are following our Safe Showings protocol.

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Days of Inventory

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In the residential real estate industry, inventory is typically measured in months.

 

For example, the definition of a “sellers’ market” is when there is less than 4 months of inventory on the market.  Meaning, at the current pace of sales, it would take less than four months to sell all the homes currently for sale.

 

Today it makes more sense to measure inventory in days instead of months.

 

Here is the number of residential properties currently listed for sale in each market:

 

  • Larimer County = 255
  • Weld County = 261
  • Metro Denver = 1,645

 

Here is the current pace of sales in each market:

  • Larimer County = 10/day
  • Weld County = 10/day
  • Metro Denver = 112/day

 

So, at the current pace of sales, this is how long it would take to sell all the residential properties currently for sale in each market:

  • Larimer County = 26 days
  • Weld County = 27 days

Metro Denver = 15 days

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At Windermere Real Estate we are taking Safer at Home and Social Distancing very seriously.  Our people are following our Safe Showings protocol, staying connected to their clients, and providing help wherever needed.

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Ranked!

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The latest report from the Federal Housing Finance Authority is hot off the press. They rank 241 major metropolitan areas across the U.S. for yearly home price appreciation.

They show that, nationally, home prices have gone up 4.99% over the last 12 months.
Here’s how the major cities rank in Colorado among the 241:
 
#22 Greeley = 7.94%
#27 Colorado Springs = 7.64%
#63 Fort Collins = 6.34%
#133 Denver = 4.83%
#188 Boulder = 3.41%
 
** Interesting fun fact: In the WORST economy of our lifetime (2008 recession), home appreciation in Fort Collins only went down 2.2%. Compare that to places like Las Vegas that went down by over 35%! Now that’s a stable economy.**

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Fantastic Cul de Sac Home in Fort Collins!

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This fantastic home at 3927 Gardenwall Ct is at the end of a cul-de-sac in the popular Waterglen neighborhood features an open floor plan with vaulted ceilings and fireplace. Your new home is move-in ready. All three bedrooms, including a great master suite are on the second floor. Enjoy the large fenced back yard adjacent to a sprawling green area, while relaxing on the large stamped concrete patio. Close to I-25 and Old Town. A beautiful home and excellent value! Contact Jon Holsten for your private showing at (970) 237-2752 for more information or click the link below for more details.

http://windermerenoco.com/listing/88744179

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Beautiful Craftsman Home in Fort Collins!

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This beautiful Craftsman home at 2138 Yearling Dr near Jessup Farm in Bucking Horse comes with 4 bedrooms, 3 bathrooms, an office, 3 car tandem garage + 220 service, and a full unfinished walk-out basement. The kitchen includes 42 inch cabinets, SS appliances, walk-in pantry and pot filler. Upgraded hardwoods and gas fireplace in great room. Sitting area in master bedroom in addition to a spacious loft, Jack and Jill bath between 2nd and 3rd upstairs bedrooms. Plantation shutters, upscale lighting and hardware throughout. Enjoy the pool and ideal access to trails! Contact Tricia Muraguri for your private showing at (970) 217-6345 for more information or click the link below for more details.

http://windermerenoco.com/listing/88710031

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